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PPP Loan Data — Desco Industries Incorporated, Chino, CA

SBA PPP loan data, payroll data, and salaries for Desco Industries Incorporated
CA

Desco Industries Incorporated

Entity: Partnership

Industry: All Other Miscellaneous Electrical Equipment and Component Manufacturing

Location: Chino, CA

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Desco Industries Incorporated is a partnership located at 3651 Walnut Ave in Chino, California that received a Coronavirus-related PPP loan from the SBA of $4,588,000.00 in May, 2020.

$ PPP Loan Information

Loan Size:

$4.59M

Jobs Retained:

0 Unreported

Loan Approved:

2020-05-01

Lender:

WELLS FARGO BANK, NATIONAL ASSOCIATION

Desco Industries Incorporated received a Paycheck Protection Loan of $4.59M through WELLS FARGO BANK, NATIONAL ASSOCIATION, which was approved in May, 2020.

Based on standard PPP eligibility rules, Desco Industries Incorporated's total 2019 payroll expenses were approximately $22.02M in order to qualify for the PPP loan amount received.

Unlike most businesses, Desco Industries Incorporated's PPP data does not report the number of jobs retained by their receipt of the Paycheck Protection Loan (some banks did not release this infomation from their loan applications). Without this data, per-employee payrolls for this company cannot be estimated.

Because the loan received by Desco Industries Incorporated is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Desco Industries Incorporated in Chino, CA

Desco Industries Incorporated
3651 Walnut Ave
Chino, CA 91710

Business Industry

All Other Miscellaneous Electrical Equipment and Component Manufacturing (NAICS code 335999)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: CA-35

Industry PPP Comparison Statistics

Nationwide, 1,412 businesses in the "All Other Miscellaneous Electrical Equipment and Component Manufacturing" industry received a total of $338,887,280.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.

PPP recipients in this industry report an average of 18 employees, and received an average PPP loan of $240,005, 95% lower than this company's loan of $4.59M.

FederalPay's PPP Information Policy

Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for all private companies that received a PPP loan.

All information displayed on this page is publicly available information under PPP loan guidelines, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA.

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Footnotes & Information

1. Payroll and salary estimates assume the borrower used the standard PPP calculation of 2.5 x average 2019 monthly payroll costs to determine PPP loan eligibility. Calculation methods vary based on entity type. Please read the latest official SBA PPP calculation rules for a full explanation of PPP loan amount calculation methods.

2. If a company's reported number of employees divided by the maximum PPP range amount per the SBA is greater than $100,000, the estimated maximum PPP loan received by the company can be adjusted down to assume no more than $100,000 yearly salary per employee was used in the PPP application. While employees at the company may earn more, $100k / employee is the maximum amount that can be used in PPP eligibility calculations.


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Source: www.federalpay.org/paycheck-protection-program/desco-industries-incorporated-chino-ca